It appears that the crypto market will have a bearish weekend as most of the cryptocurrencies are trading red led by the world’s first cryptocurrency, Bitcoin (BTC). However, there is one altcoin that has picked up the pace and is outperforming BTC.
Meanwhile, the analytic firm, Santiment claims that as crypto sharks and whales are busy accumulating XRP, the XRP/BTC pair has now reached the level that was seen in September 2021.
The firm then says that the major reason for XRP experiencing such a spike is the hope that is built up around the lawsuit settlement of Ripple vs SEC, running since December 2020.
As per the reports, the XRP/BTC report has hit a one-year high of 0.000025 BTC which is $0.48
At the time of writing, XRP is selling at $0.48 after a fall of 4.90% in the last 24hrs. But the currency has gained more than 40% in the last seven days.
Before winding up its analysis, Santiment bought the overall crypto market under the spotlight and claimed that huge Tether (USDT) stablecoin holders are multiplying their crypto holdings after the currency plunged at the start of the year.
Further, the firm asserts that while the crypto market trades under volatility, the buying power seems to be gaining pace eventually, especially among USDT addresses. To be precise the firm revealed that the addresses that hold $100,000 to $10 million USDT have added more than 4.03% in the last seven weeks
Currently, Tether (USDT) is trading at $1 with a minuscule surge of 0.01% over the last 24hrs.